The Majors spending up large to develope Gas Fields...
BP plans to invest about $1.5 billion in Egypt during the next few years as it seeks to develop gas projects and drilling in the North African country.The spending, which will be net to BP (LON:BP), follows the London-based major’s announcement earlier this month it will form a gas-focused joint venture in Egypt with Abu Dhabi National Oil Co.
The new spending will occur during the next three to four years, a BP spokesperson said in an emailed response to questions. BP will continue to hold about 70% of its existing interests in Egypt outside the joint venture with Adnoc.
